Stock analysts at StockNews.com assumed coverage on shares of International Seaways (NYSE:INSW – Get Free Report) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the transportation company’s stock.
INSW has been the subject of a number of other research reports. Stifel Nicolaus cut their target price on shares of International Seaways from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, July 19th. BTIG Research upped their target price on shares of International Seaways from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $60.20.
Read Our Latest Stock Analysis on International Seaways
International Seaways Price Performance
International Seaways (NYSE:INSW – Get Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The transportation company reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.42. International Seaways had a net margin of 57.03% and a return on equity of 42.76%. The company had revenue of $292.20 million during the quarter, compared to analyst estimates of $262.66 million. Equities research analysts forecast that International Seaways will post 10.22 EPS for the current fiscal year.
Insider Activity
In other news, CAO James D. Small III sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $40.00, for a total transaction of $40,000.00. Following the sale, the chief accounting officer now directly owns 75,217 shares in the company, valued at approximately $3,008,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other International Seaways news, Director Douglas D. Wheat sold 8,000 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $46.00, for a total value of $368,000.00. Following the transaction, the director now directly owns 29,902 shares in the company, valued at approximately $1,375,492. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James D. Small III sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $40.00, for a total transaction of $40,000.00. Following the completion of the transaction, the chief accounting officer now owns 75,217 shares in the company, valued at $3,008,680. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,000 shares of company stock worth $1,528,395. 2.00% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On International Seaways
A number of hedge funds have recently added to or reduced their stakes in INSW. Pale Fire Capital SE raised its holdings in shares of International Seaways by 2,495.6% in the second quarter. Pale Fire Capital SE now owns 1,797,025 shares of the transportation company’s stock worth $68,718,000 after buying an additional 1,727,791 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of International Seaways in the second quarter valued at about $17,047,000. Victory Capital Management Inc. grew its position in shares of International Seaways by 159.2% in the first quarter. Victory Capital Management Inc. now owns 966,565 shares of the transportation company’s stock valued at $40,286,000 after purchasing an additional 593,683 shares during the period. Dimensional Fund Advisors LP grew its position in shares of International Seaways by 19.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,928,861 shares of the transportation company’s stock valued at $122,074,000 after purchasing an additional 466,627 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of International Seaways by 2,140.5% in the fourth quarter. Two Sigma Advisers LP now owns 485,049 shares of the transportation company’s stock valued at $17,957,000 after purchasing an additional 463,400 shares during the period. 63.08% of the stock is currently owned by institutional investors.
International Seaways Company Profile
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.
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